President Duterte invites Thai businessmen to invest more in the Philippines

President Rodrigo Duterte urged Thai businessmen to invest more in the Philippines, citing the uptick in the country’s economic indicators on June 22 in the sidelines of ASEAN Summit 2019. 

“I invite you to ride on the momentum of Philippine growth story and invest especially in the new industrial destinations of Metro Manila, Pampanga, Clark, Cebu, Bohol and Davao,” the President said during a courtesy call by at least 20 Thai businessmen at the Waldorf Astoria in Bangkok.

Executives of Thai conglomerates who met with the President include Khun Chartsiri of Bangkok Bank, Khun Sanan of Srithai Superware/Erawan Group and Khun Visit of Nguansoon Pepper and Spice. Last week, the Philippines’ Board of Investment (BOI-PH) and Bangkok Bank signed an MOU on joint investment promotion.

Duterte said the Philippines values the economic partnership with Thailand and that he was “pleased with the current Thai investments in my country.”

“(I) hope that they will continue to increase in the years ahead,” he said, citing such group as Charoen Pokphand Group, which is involved in agro-industrial and aqua-industrial business in the Philippines, and the Erawan Group, which operates the Hop Inn hotels.

Duterte also said he was encouraging the Thai Beverage TCC Group to also do business in the Philippines, especially in the real estate and the hotel business.

The President also called on Thai companies to take part in the massive construction activities that the government has started, especially for infrastructure.